How Oil and Gasoline Prices Actually Work — Vice

Gas prices—and therefore oil prices—wield a tight grip on the American consumer psyche. No other commodity’s prices are tracked so closely, advertised so prominently, and hold such significance in the minds of the American people as gas prices. It is also a market few people understand. 

When gas prices are low, people are pleased, or at the very least do not complain about gas prices. But when gas prices are……Full Loaf Hot Link[read more]

Rising Dough

Rising Dough - the question(s) that we need to think about from the reading.Who controls oil prices? Is there anything weird about why oil prices are high now?

*Click on the “Full Loaf” icon to read the full article! After you read the article come back and tell us your thoughts.

3 thoughts on “How Oil and Gasoline Prices Actually Work — Vice”
  1. Buyers and Sellers aka the consuming market controls the gas/oil prices. Also it’s not necessarily weird about how the prices are high. Political issues can effect the economic issues such as Russia invading Ukraine.

  2. The gas station and the people who get gas are controlling it not literally but if there is a lot of demand for gas the price will go up and if there is not such a high demand prices will be back down

  3. Gas prices, and the associated oil prices, are a solid grasp of American consumer sentiment. The prices of other commodities are not so closely monitored, they are prominently advertised, and are as important as gas prices in the minds of the American people. It is also a market that is poorly understood.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.